West Yellowstone Outfitters Corporation manufactures and distributes leisure clothing.Selected transactions completed by West Yellowstone Outfitters during the current fiscal year are as follows:Jan. 15. Split the common stock 4 for 1 and reduced the par from $120 to $30 per share. After the split, there were 800,000 common shares outstanding. Mar. 1. Declared semiannual dividends of $0.25 on 100,000 shares of preferred stock and $0.07 on the 800,000 shares of $30 par common stock to stockholders of record on March 31, payable on April 30.Apr. 30. Paid the cash dividends.May 31. Purchased 60,000 shares of the corporation’s own common stock at $32, recording the stock at cost.Aug. 17. Sold 40,000 shares of treasury stock at $38, receiving cash.Sept. 1. Declared semiannual dividends of $0.25 on the preferred stock and $0.09 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding, to be capitalized at the fair market value of the common stock, which is estimated at $40.Oct. 31. Paid the cash dividends and issued the certificates for the common stock dividend.